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Our Research: Retirement Security

While small business owners spend their days concentrating on whatever their particular specialty is--be it marketing services, dry cleaning or landscaping, there's one thing they all have in common: they have to contend with a host of larger issues ranging from employee pay and benefits, medical leave issues, nondiscrimination and more. These are issues they deal with often times on a daily basis, which means they know better than most what kind of solutions would be helpful when shaping public policy. The topics below clearly outline small business owners' opinions on these important workforce topics.

Scientific opinion polling shows freelancers and self-employed entrepreneurs are doing reasonably well financially in the post-recession economy, but many are not able to save for retirement. As a result, they support portable retirement vehicles that address the flexible nature of their work.

A scientific opinion poll released by AARP and Small Business Majority shows a strong majority of California small business owners support the creation of a voluntary, portable retirement savings program that would allow employees to more easily save for their financial future. What's more, small business owners believe offering such a program to their employees would give their business a competitive edge.

Scientific opinion polling found the majority of millennials who own a business or would like to start one at some point say student debt and a lack of retirement savings plan are barriers to entrepreneurship.

In every aspect of building a thriving society and economy—from addressing long-term unemployment to providing high quality jobs—American entrepreneurship represents a pathway to success, particularly among young Americans who struggled to get their foot in the door during the Great Recession...

The economy is improving, but Illinois small business owners and their employees are facing another financial hurdle: retirement security. The U.S. currently suffers from a retirement savings gap of more than $6 trillion, and more than 38 million households do not have any retirement savings at all. Illinois small business owners and their workers are no exception.